At Transparent Mortgage, we only hire reputable local home appraisers. Why? Because they understand the San Diego real estate market better than anyone else and that means better home evaluations for our mortgage loan, refinancing and home equity loan clients.
We only use our own staff of San Diego based home appraisers that we trust and work with exclusively. Because we are an independent lender and mortgage banker, we are able to have more control of the appraisal process as a result of these local connections. The insight from these local real estate experts is so valuable. Below are some of the biggest benefits they bring to the table.
1. Local Knowledge
Transparent Mortgage’s local home appraisers understand the different communities of San Diego County and can gather accurate sales comparables more effectively. This ensures proper home evaluation if you are refinancing your mortgage loan or looking to purchase a property in the area. It should also be said that we’re very proud to be a San Diego based company and we like aligning ourselves with other local professional services.
2. Better Communication
By nature of being locally based, communication is so much easier with our appraisers. They can quickly let us know if there are any questions or problems regarding an appraisal. In addition, they typically get us the final appraised home values more efficiently than someone who isn’t as familiar with the local market. If there are any unique characteristics of the home, the local appraiser can work closely with Transparent Mortgage and/or the real estate agents to secure the highest qualifying appraisal.
3. More Control
Most bigger banks and mortgage lenders utilize a random assignment system to find appraisers. Ultimately, they have very little control of the appraisal process. This means their appraisals are more likely to come in at lower values, whereas our local appraisers will maximize the assessed value of your home.
4. More Accurate and Less Conservative Home Valuations
Getting the most value for your home, using current appraisal methodology, can absolutely lead to better mortgage loan terms for clients of Transparent Mortgage. Our quotes are largely affected by the appraised value, especially when it comes to refinancing or home equity loans. A higher home value can also help remove mortgage insurance payments with FHA loans and other types of loans that might require mortgage insurance premiums.
As owner of Transparent Mortgage, I strongly believe it is important to make sure our clients are taken care of and that we secure the best possible mortgage loan terms and interest rates. Having our own local appraisal management company is a huge advantage.
To learn more about our local appraisal team and the benefits they can bring you as a borrower, contact us today. And of course, if you have any questions about the home buying, refinancing or home equity loan process, Transparent Mortgage is always here to help!